The production of wheat and rapeseed is expected to double. Producers say they expect a production of some five tons per hectare for wheat, four tons per hectare of barley, and a minimum three tons per hectare of rapeseed.
Analysts indicate that the crop will not help stabilize the inflation index, nor influence food prices. “Agriculture makes up 6 percent of Romania’s GDP. The good crop will not influence inflation, because Romania has no sales markets,” said economic analyst Ilie Serbanescu.
The rise in worldwide grain price will determine a 15 percent increase in turnover for local producers.
The advance of agriculture this year could lead to a surplus of one or two percentage points in GDP, which could lead to economic growth of some 7 percent, according to a declaration at a seminar by Lucian Croitoru, Advisor to Mugur Isarescu, Governor of the National Bank of Romania (BNR). “Economic growth will be high for the whole of 2008, due to the fact that this promises to be an exceptional agricultural year, and could bring about one or even two percent growth of gross domestic product,” added Croitoru.
